Brief: PetroShale Posts Q3 EPS Of $0.03

Lucero Energy

20/11/2019 12:29

Nov 20 (Reuters) - PetroShale Inc  PSH.V :
    * PETROSHALE ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR
THIRD
QUARTER 2019 AND 2020 BUSINESS PLAN
    * PETROSHALE INC - PRODUCTION OF 11,467 BOE/D IN Q3, NEARLY
DOUBLE
Q2 AVERAGE
    * PETROSHALE INC - EXPECT PRODUCTION TO AVERAGE BETWEEN
11,000 AND
12,000 BOE/D DURING Q4 OF 2019 AND EXIT YEAR AT A RATE IN EXCESS
OF 12,000 BOE/D
    * PETROSHALE INC QTRLY EARNINGS PER SHARE $0.03
    * PETROSHALE INC - BOARD HAS APPROVED A 2020 BUSINESS PLAN
WHICH
CO ANTICIPATE WILL RESULT IN SIGNIFICANT FREE CASH FLOW
    * PETROSHALE INC - PLAN TO REDUCE CAPITAL SPENDING IN 2020
AND
FOCUS ON GENERATION OF FREE CASH FLOW
    * PETROSHALE INC - BOARD OF DIRECTORS HAS APPROVED A CAPITAL
BUDGET OF $70 MILLION FOR 2020
    * PETROSHALE INC - ANTICIPATE GENERATING FREE CASH FLOW IN
EXCESS
OF $50 MILLION IN 2020

Source text for Eikon:  ID:nCNWgXjV8a 
Further company coverage:  PSH.V 

 ((Reuters.Briefs@thomsonreuters.com;))